Market Research Blog – Page 10410 – New Product Development

Third-Party Risk Management Market Set to Witness an Uptick Size US$ 19.7 Billion to 2032 | FMI

The third-party risk management market is envisioned to advance at a CAGR of 14.7%, from USD 5 billion in 2022 to USD 19.7 billion by 2032. Factors such as severe compliance rules to address third-party risks, a lack of in-house competencies across many verticals, and an increase in cyberattacks are projected to positively influence the third-party risk management market trends and drive third-party risk management market growth.

The growing reliance of various companies on third-party suppliers is a primary driver of the third-party risk management market future trends. Regulatory agencies’ increased attention to data governance and privacy has fueled third-party risk management market opportunities.

A lack of understanding and reliance on traditional and manual risk management techniques can be a serious impediment to third-party risk management market adoption trends.

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The third-party risk management market has seen an increase in the use of AI and ML technologies for third-party due diligence, which has created third-party risk management market opportunities. High initial investment costs might be a significant barrier to third-party risk management market share expansion.

Third-party risk management market legacy players are present in the United States, supplying modern solutions to various industrial verticals in the area.

Geographical presence, strategic investments, collaborations, and considerable R&D efforts all contribute to the widespread adoption of third-party risk management effective solutions. Such reasons are projected to drive the third-party risk management market growth in the United States.

Since the majority of the providers are based in the United States, it is likely to be the most mature in the third-party risk management market.

KEY TAKEAWAYS:

The US third-party risk management market is estimated to reach US$ 6.6 Billion by 2032, increasing at a 14.3% CAGR through 2032.
The third-party risk management market in the United Kingdom is expected to be worth US$ 820.4 Million by 2032, with a CAGR of 13.3% through 2032.
China’s third-party risk management market is expected to reach US$ 1.3 Billion by 2032, with a CAGR of 14.3% through 2032.
The Japanese third-party risk management market is expected to be valued US$ 1 Billion by 2032, rising at a 13.1% annual rate through 2032.
South Korea is expected to have a third-party risk management market worth US$ 665.6 Million by 2032, with a CAGR of 10.4% through 2032.
The component sector of the third-party risk management market’s solutions section is predicted to increase at a CAGR of 13.1% through 2032.
Cloud will grow at a CAGR of 12.4% in the deployment mode sector of the third-party risk management market through 2032.

COMPETITIVE LANDSCAPE:

SAI Global Compliance, Inc., Rapid Ratings International Inc., Optiv Security Inc., PwC, Aravo Soutions, Inc., OneTrust, LLC, Prevalent, Inc., Alyne GmbH, Ernst & Young Global Limited, IBM Corporation are among the major legacy players that provide third-party risk management solutions globally.

To increase their products in the third-party risk management market trends, these vendors have used a variety of growth techniques, such as new product releases, partnerships, and collaborations.

To extend their influence in the third-party risk management market trends, these vendors have used a variety of organic and inorganic growth tactics.

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Key Segments

By Component:

Solution
Financial Control Management
Contract Management
Operational Risk Management
Audit Management
Compliance Management

Services:

Professional Services
Managed Services

By Vertical:

BFSI
IT and Telecom
Healthcare and Life Sciences
Government and Defense
Retail and Consumer Goods
Manufacturing
Energy and Utilities

By Deployment Type:

Cloud Based
On-Premises

By Organization Size:

Large Enterprises
SMEs

By Region:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Virtual Private Cloud Market Worth US$ 129.6 Billion By 2032 | CAGR 12.8% – By FMI

The virtual private cloud market is expected to escalate at a CAGR of 12.8%, from US$ 38.8 billion in 2022 to US$ 129.6 billion through 2032. The market growth of the virtual private cloud market will be supported by key factors such as the cost-effectiveness of products, the rising volume of business data and connectivity trends, & the growing need for workers to access mobile applications and resources.

The virtual private cloud market is experiencing rapid growth due to the increasing demand from small and medium enterprises, ever-increasing adoption of cloud-based services by large enterprises across different industry verticals, along with the increased number of data breaches over a network that is primarily the result of unauthorized access by third parties.

Various government agencies have been investing heavily into the digitization of their operations to improve productivity and reduce operating costs through the implementation of efficient management practices, thereby expanding the use of virtual private clouds throughout most organizations.

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Digital Business Models that have seen a rapid rise in popularity and implication, such as “as a service”, have played a significant role in fueling product innovation and development within VPC providers all over the world.

In addition to offering private cloud advantages, virtual private clouds provide safe intranet connectivity and data storage advantages in a public cloud environment.

KEY TAKEAWAYS:

The virtual private cloud market is predicted to develop at a CAGR of 11.8% through 2032 in the software section of the component category.
The CAGR for the banking, financial services, & insurance segment of the vertical method category in virtual private cloud market is anticipated to be 11.5% through 2032.
In the United States, the virtual private cloud market is estimated to reach US$ 5.3 billion by 2032, rising at a CAGR of 12.5% throughout the forecast period.
By 2032, the virtual private cloud market in the United Kingdom is expected to be valued US$ 5.3 billion, with a CAGR of 11.8% through 2032.
With a CAGR of 12.1% throughout the forecast period, China is expected to reach a market size of US$ 9.2 billion in virtual private cloud market by 2032.
By 2032, the virtual private cloud market in Japan is estimated to be worth US$ 7.5 billion, growing at an annual rate of 11.0% through 2032.
With a CAGR of 10.3% throughout the forecast period, South Korea is predicted to reach a market size of US$ 4.6 billion in virtual private cloud market by 2032.

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COMPETITIVE LANDSCAPE:

Key companies profiled in the virtual private cloud market report include Amazon Web Services, HP, IBM, Microsoft, Google, VMware, Oracle, Cisco Systems, Red Hat, and NetApp.

There have been major gains in the global virtual private cloud market over the past five years in North America. The growing demand for VPCs in this region is due to the growing number of large enterprises involved across different industry verticals. Latin America is expected to grow at an impressive rate during the forecast period, recording the highest CAGR.

Due to their improved operational efficiency and security features, VPCs are in high demand from both small and large enterprises across a wide variety of industries, such as banking & finance, telecommunications, manufacturing, healthcare, etc. Europe holds the second-largest market share due to their demand from both small and large enterprises.

Key Segments

By Component:

Software
Services

By Organisation Size:

Small and Medium Sized Enterprises
Large Enterprises

By Vertical:

Banking, Financial Services, and Insurance
IT and Telecom
Government and Defence
Healthcare
Media and Entertainment
Retail
Manufacturing
Others

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By Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

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Anti-Osteoporosis Therapy and Fracture Healing Market In-Depth Analysis, Growth Strategies and Comprehensive Forecast to 2030

Osteoporosis is a condition in which an individual starts losing his or her bone mass density. The condition increases the risk of bone cracks and fractures. There are several therapeutic options including oral drugs and injectable available for the treatment of osteoporosis. According to Future Market Insights (FMI), the anti-osteoporosis therapy and fracture healing market size will register continued growth between 2020 and 2030. By the end of 2021, it is expected to surpass US$ 12 Bn.

Various leading market players are focusing on collaborative product development that has led to product innovation and availability of therapeutic options. For instance, GSK Consumer Healthcare has been established under single business following the completion of the merger of the consumer arms of GSK and Pfizer on August 1 in 2020

Rapidly growing ageing populations and rising prevalence of obesity expected to create considerable growth opportunities. The anti-osteoporosis therapy and fracture healing market is expected to grow significantly in terms of revenue over the forecast period owing to the increase in the availability of technologically advanced products options all over the world.

Moreover, stringent regulations are key restraints affecting growth of anti-osteoporosis therapy and fracture healing market. Side effects caused by osteoporosis drugs such as mild to fatal nausea, skin rashes, and others could affect growth of the market. Stringent regulations imposed by international organizations such as the U.S. Food and Drug Administration, which also conducts frequent revisions of side effects for osteoporosis drugs are challenging anti-osteoporosis therapy and fracture healing market growth.

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Key Takeaways from Anti-osteoporosis Therapy and Fracture Healing Market Study

Anti-osteoporosis therapy and fracture healing market is expected to register 4.5% Y-o-Y growth in 2021
The demand from the U.S. is expected to be considerably, enabling it to account for a little below 90% of the North America market
The U.K. market is expected to register 5.4% Y-o-Y growth in 2021
France and Germany are likely to exhibit considerably high demand for anti-osteoporosis therapy and fracture healing
Within East Asia, both Japan and South Korea will emerge as key markets

Product Launches Remain Key Strategy

Product approvals by the U. S. FDA for anti-osteoporosis therapy and fracture healing drugs as well as injectable are expected to push towards high competition among market players. Numerous companies are focusing on advanced product development that is convenient to use and provide rapid efficacy in the treatment of osteoporosis.

For Instance, in April 2019, Amgen Inc. announced about approval of its EVENITY® by U.S. Food and Drug Administration (FDA) used in the treatment of postmenopausal women at high risk for fracture. According to FMI, oral drugs will continue accounting for the leading market share. Oral will remain highly preferred as route of drug administration, accounting for over 64% of the market in 2021.

Who is winning?

The global market is set to broaden its scope in the forecast period, stimulated by high prevalence rate of osteoporosis, rising geriatric population globally and adoption of advanced anti-osteoporosis therapy and fracture healing products which can be used for long term care needs. In addition to this, changing regulatory dynamics and patent expiry of blockbuster drugs has constrained the sales of anti-osteoporosis therapy and fracture healing products.

The key market players covered by FMI include Eli Lilly and Company, Pfizer, Inc., Amgen Inc., Merck and Company Inc., Novartis International AG, F. Hoffmann La Roche Ltd., Teva Pharmaceutical Industries Ltd. and GlaxoSmithKline Plc. consolidating their positions through mergers, acquisitions and new product launches.

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Anti-osteoporosis Therapy and Fracture Healing Market by Category

Drug Type

Bisphosphonates
- Osteoporosis
- Others
Calcitonin
- Osteoporosis
- Others
Estrogen or Hormone Replacement Therapy
- Osteoporosis
- Others
Others
- Osteoporosis
- Others

Route of Administration

Oral
- Osteoporosis
- Others
Injectable
- Osteoporosis
- Others

Distribution Channel

Hospital Pharmacies
- Osteoporosis
- Others
Drug Stores
- Osteoporosis
- Others
Retail Pharmacies
- Osteoporosis
- Others
E-commerce
- Osteoporosis
- Others

Region

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa (MEA)

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Disposable Negative Pressure Wound Therapy Devices Market: Worldwide Industry Analysis and New Market Opportunities Explored By 2028

Disposable Negative Pressure Wound Therapy Devices Market Size: Global Industry Analysis (2022 – 2028), it has been stated that the development around the globe in the last couple of years reflected certain complexities and fissures related to the political environment across many countries. As protectionists are threatening to penetrate the notions of free-trade, globalization is likely to face its most difficult test ever. The threat of populist policies disrupting the decades-old trade agreements have grown bigger as the social and cultural rift between the bourgeoisie and proletariat is deepening with time.

While the preceding decades were marked by unison and formation of economic blocks, disintegration has been the story of the recent past. Although the business climate is far from favorable for organizations who have interest in multiple countries, the prevailing encounters have also obligated that corporate social responsibility becomes more than just a formality and companies actually demonstrate that they contribute to the societies they operate in. There is a dire need for companies to participate in discussions and debates that will eventually lead to policy formulations. Owing to these circumstances the global disposable negative pressure wound therapy devices market is anticipated to witness a CAGR of 10.6% over the forecast period of 2017 and 2027.

Cost Control Measures and Rising Healthcare Expenditure to Bode Well for the Market

The adoption rate of disposable NPWT devices is rising in developed nations such as the U.K., Germany, and the U.S., due to the obligation of healthcare burden across these countries owing to the growing prevalence of chronic wounds. According to an article on Wound Practice and Research, the healthcare expenditure for chronic wounds of 6.5 Mn patients accounts for over US$ 25 Bn per year in the U.S. Other research studies have also indicated that among chronic wounds, venous insufficiency ulcers constitute approximately 50% of the chronic leg ulcers. These wounds result due to venous etiology. Annual prevalence of venous insufficiency ulcers in those aged 65 and above has been estimated to be near to 2 in every 100 persons per year. Prevalence of pressure ulcers varies between 0.31% and 0.70% per year in the United States. Such cases are likely to boost the demand for disposable NPWT in the years to come.

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Moreover, the growing focus on the expenditure pertaining to healthcare across developed as well as developing nations is expected to drive the adoption high quality patient care treatment options across the globe. This has also led to the rise in the per capita healthcare expenditure owing to the rising disposable income of people across the globe. This, is further expected to fuel the demand for wound care therapy and also increase the adoption of disposable NPWT devices in the course of the forecast period.

North America to Lead Among All Regions

North America is expected to stay on the vanguard during the forecast period in the global disposable NPWT devices market with a share of 51.1% in the overall market. The U.S. is expected to emerge as the most lucrative nation in North America closely trailed by Western Europe and Asia Pacific excluding Japan. Based on product type, the market has been bifurcated into disposable NPWT with canister and disposable NPWT without canister. On the basis of end user, the market has been segmented into hospitals, clinics, and homecare settings.

Preview Analysis on Global Disposable Negative Pressure Wound Therapy Devices Market Segmentation By Product Type – Disposable NPWT with Canister, Disposable NPWT without Canister; By End User Type – Hospitals, Clinics, Home Care

Market Players to Concentrate on Product Differentiation

The top players in the market are focusing on product differentiation and expansion of consumer base in order to retain their position in the market. The leading players accounted for over 77% of the global market share in 2016. The players are Acelity (Kinetic Concepts, Inc.), Cardinal Health Inc., Smith and Nephew PLC., ConvaTec Inc., and Medela.

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Disposable Negative Pressure Wound Therapy- Market Segmentation – by Category

By Product:

Disposable NPWT with canister
Disposable NPWT without canister

By End user:

Hospitals
Clinics
Home care settings

Region:

North America
Western Europe
Eastern Europe
Latin America
APEJ
Japan
MEA

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Neonatal Thermoregulation Market Share and Growth Factors Impact Analysis 2031

Future Market Insights presents a new report titled ‘Neonatal Thermoregulation Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027’ that studies the performance of the global neonatal thermoregulation market size over a 10 year assessment period from 2017 to 2027. The report presents the value forecasts of the global neonatal thermoregulation market and provides pertinent insights into the various factors driving market growth as well as the factors restricting market growth. As per the assessment of Future Market Insights, the global neonatal thermoregulation market was estimated to be valued at nearly US$ 500 Mn in 2017 and is expected to reach a valuation of about US$ 800 Mn by 2027, and in the process exhibit a CAGR of 5.0% during the period of forecast 2017-2027.

International Companies Targeting Emerging Economies for Lucrative Opportunities in the Neonatal Thermoregulation Market

The companies involved in the manufacturing and marketing of neonatal care equipment are shifting their focus towards emerging economies such as China, India, South Africa, Brazil and Mexico. Multinational companies are especially targeting the Asian markets for developing neonatal infant care equipment due to a significant demand and a potentially large customer base. For instance, in 2013, Koninklijke Philips N.V. entered the mother and childcare business segment, where it manufactures infant warms and incubators at affordable prices as compared to other market players in India. In December 2013, the GE Healthcare designed models to improve quality of neonatal care. The company launched two products for neonatal care in India, the new Lullaby Warmer Prime, and Lullaby Resus. The cost was about 40% lower than the existing offerings from GE, so that the products are easily accessible in low-middle income economic countries. Companies in the Asia Pacific region are developing innovative solutions to meet the growing needs of the neonatal care and treatment market. Companies, such as MTTS Asia and Pluss Advanced Technologies Pvt. Ltd. have developed innovative products, such as Miracradle and MTTS Firefly, catering to the demand for cooling systems in the region.

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Global Neonatal Thermoregulation Market: Segmentation and Forecast

The global neonatal thermoregulation market is segmented on the basis of product type, modality, end user and geography.

By product type, the neonatal incubators segment was estimated to be valued at nearly US$ 250 Mn in 2017 and is likely to reach a valuation of nearly US$ 410 Mn in 2027, exhibiting a CAGR of 5.2% during the period of assessment 2017-2027.
By modality, the closed segment was estimated to be valued at nearly US$ 270 Mn in 2017 and is anticipated to witness a CAGR of 4.7% during the period of forecast.
By end user, the hospitals segment is expected to reach a valuation of nearly US$ 430 Mn in 2027.
By geography, the Asia Pacific neonatal thermoregulation market was estimated to be valued at nearly US$ 170 Mn in 2017 and is likely to reach a valuation of about US$ 295 Mn in 2027, exhibiting a CAGR of 5.5% during the period of forecast.

Preview Analysis on Neonatal Thermoregulation Market Segmentation By Product Type – Warmer, Radiant Warmer, Wall Mount Warmer, Neonatal Incubators, Intensive Care Incubator, Hybrid Incubator, Selective Close Care Incubators, Transport Incubator, Neonatal Cooling Systems; By Modality Type – Open, Closed; By End User Type – Hospitals, Paediatric and Neonatal, Intensive Care Units, Others

Global Neonatal Thermoregulation Market: Competitive Landscape

In this report, some of the important companies functioning in the global neonatal thermoregulation market have been profiled in the competitive landscape section. Some of the prominent companies that have been featured include GE Healthcare, Natus Medical Incorporated., Inspiration Healthcare Group plc, Koninklijke Philips N.V., Drägerwerk AG & Co. KGaA, Fisher & Paykel Healthcare, International Biomedical, Ltd., Atom Medical Corporation, Fanem Ltda, Novos Medical Systems, Pluss Advanced Technologies Pvt. Ltd., Weyer GmbH, BabyBloom Healthcare BV and Medical Technology Transfer and Services Asia.

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Market Segmentation by Category

Product Type:

Warmer
- Radiant Warmer
- Wall Mount Warmer
Neonatal Incubators
- Intensive Care Incubator
  - Hybrid Incubator
  - Selective Close Care Incubators
- Transport Incubator
Neonatal Cooling Systems

Modality:

Open
Close

End User:

Hospitals
Paediatric and Neonatal
- Intensive Care Units
Others

Region:

North America
Latin America
Europe
Middle East and Africa (MEA)
East Asia
South Asia
Oceania

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Cervical Pillows Market Study: An Emerging Hint of Opportunity by 2028

According to a newly published report by Future Market Insights titled “Cervical Pillows Market: Global Industry Analysis (2013-2021) and Opportunity Assessment (2022-2028),” major players in the market are trying to launch and add new products to their product portfolio to stay at the top in this competitive market. According to the report forecasts, the global cervical pillows market size is projected to register a CAGR of 4.5% in terms of value during the forecast period 2022–2028. The market is anticipated to be valued at US$ 1436.2 Mn by 2028. The primary reasons behind market revenue growth are an increasing prevalence of neck and back pain and growing research and development activities pertaining to spine and neck injuries.

Global Cervical Pillows Market: Forecast by Product Type

On the basis of product type, the global cervical pillows market is segmented into cradle pillows, neck pillows, side pillows, cervical rolls, and basic cervical pillows. Basic cervical pillows dominated the global cervical pillows market in revenue terms in 2016 and is projected to continue to do so throughout the forecast period. Basic cervical pillows is projected to be the most attractive segment with an attractiveness index of 1.6 during the forecast period. This segment was valued at US$ 299.2 Mn in 2017 and is projected to reach US$ 503.0 Mn by 2027, expanding at a CAGR of 5.3% during the forecast period.

Global Cervical Pillows Market: Trends

Partnership with distribution channels
Ease of pillows in air travel
Growing specialist chiropractor products
Collaboration through digital platforms to bring more value to patients
Increasing number of local players in the market
Innovation with new technologies and products such as Japanese buckwheat pillow
Programmes to increase awareness among the people
Accelerating number of clinical trials
Technological advancements in pillow material
New product launches with hot and cold therapy

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Global Cervical Pillows Market: Key Players

Djo Global
Alex Orthopedic Inc.
Mediflow Inc.
Coop Home Goods
Core Products International Inc.
Innocor Inc.
Lohmann & Rauscher International GmbH & Co. KG
PharMeDoc
Crown Medical Products Inc.
CNH Pillow Inc.
Therapeutic Pillow International
Arc4life
My Pillow
Hall Innovations LLC
Xtreme Comforts
Cr Sleep
Malouf
Carpenter Co.
Custom craftwork
J-Pillow Ltd

Global Cervical Pillows Market: Forecast by Application

On the basis of application, the global cervical pillows market is segmented into cervical spondylosis, trauma based whiplash recovery, and temporomandibular disorders. The temporomandibular disorders segment was valued at US$ 183.9 Mn in 2017 and is expected to grow at a CAGR of 3.2% over the period of assessment. This segment represents a market attractiveness index of 0.4.

Global Cervical Pillows Market: Forecast by Distribution Channel

Segmentation by distribution channel comprises hospital pharmacies, retails pharmacies, and e- commerce. The e-commerce distribution channel dominated the global cervical pillows market in revenue terms in 2016 and is projected to continue to do so throughout the forecast period. Hospital pharmacies is projected to be the most attractive market with an attractiveness index of 2.0 during the forecast period.

Global Cervical Pillows Market: Forecast by Material Type

Material type segmentation comprises foam pillows, fiber filled pillows, memory foam pillows, water filled pillows, gas filled pillows and gel filled pillows. The water filled pillows segment is anticipated to register a CAGR of 4.7% during the forecast period.

Global Cervical Pillows Market: Forecast by Region

North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan and MEA are the seven regions that have been covered in this report. Revenue from the North America cervical pillows market is expected to expand at a CAGR of 4.5% in terms of value over the forecast period.

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Key Segments of Cervical Pillows Industry Survey Cervical Pillows Market by Product Type:

Cradle Pillows
Neck Pillows
Side Pillows
Cervical Rolls
Basic Cervical Pillows

Cervical Pillows Market by Material Type:

Foam Pillows
Fibre Filled Pillows
Memory Foam Pillows
Water Filled Pillows
Gas Filled Pillows
Gel Filled Pillows

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Drug of Abuse Testing Market Expectations & Growth Trends Highlighted By 2031

As per a recent market analysis by Future Market Insights, the global drug of abuse testing market size is projected to top US$ 1.5 Bn in 2021, expanding at over 5% CAGR over the forecast period.

Growth can be attributed to the increasing opioid dependence in the geriatric population as a result of high dosage prescription opioid use for pain management. Chronic pain is prevalent among patients suffering from arthritis, heart diseases, and cancer Opioids are prescribed for pain management, however, overdose can result in fatalities.

In response to this, manufacturers are launching rapid, accurate, disposable, and easy-to-use drug of abuse testing kits to detect drug dependence among the elderly. This is indicative of lucrative prospects for new market entrants over the assessment period.

Besides this, growing acceptance of recreational marijuana also has triggered concerns regarding overdose. Marijuana addiction is rare, although overdose can result in breathing disorders, memory loss, elevated stress and anxiety, and concentration issues. As a result, demand for drug of abuse testing systems in corporate and educational organizations is rising for early detection of substance abuse.

As per FMI’s in-depth regional analysis, the U.S. is projected to dominate the North America drug of abuse testing market. The presence of robust healthcare infrastructure along with the prevalence of an opioid endemic in the country is expected to continue pushing sales of drug of abuse testing tools.

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“The introduction of integrated drug warning systems that monitor drug overdose in real-time is expected to fuel sales of drug abuse testing equipment. Besides this, increasing adoption of drug testing tools in forensic laboratories to identify illicit drugs for the criminal justice system are expected to continue augmenting growth of the global drug of abuse testing market through 2031,” says an FMI analyst.

Key Takeaways:

Based on drug type, sales of drug of abuse testing for cannabinoids are expected to remain high through 2031.
In terms of technique, immunoassays will remain highly sought-after.
Demand for drug of abuse testing in forensic laboratories is anticipated to continue gaining traction over the assessment period.
The U.S. is projected to dominate the North America drug of abuse testing market owing to increasing prevalence of opioid dependence in the country.
The U.K. will continue exhibiting high demand for drug of testing systems in response to government initiatives regarding drug awareness and control measures.
China will emerge as an attractive market due to the presence of key market players and easy availability of raw materials for the manufacturing of testing products.
Japan will account for 7% of the total drug of abuse testing market share, while South Korea is expected to hold less than 1% of the total market share through 2031.

Competitive Landscape

Quest Diagnostics, Roche Holding AG, Thermo Fisher Scientific, Inc., Siemens AG (Siemens Healthineers), Abbott Laboratories (Alere, Inc.), Shimadzu Corporation, Express Diagnostics International Inc., Drägerwerk AG & Co. KGaA, and Laboratory Corporation of America Holdings are among the key players profiled by FMI.

Leading players operating in the global drug of abuse testing market are focusing on research and development to expand their product portfolios. Besides this, players are aiming at production facility expansions through mergers, acquisitions, and collaborations.

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More Insights into the Drug of Abuse Testing Market Report

In its latest report, FMI offers an unbiased analysis of the global drug of abuse testing market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of drug (psychostimulants, narcotics, cannabinoids, sedatives and others), technique (immunoassay, chromatography and rapid testing), end user (hospitals, diagnostic laboratories, forensic laboratories and others) across seven regions (North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan (APEJ), Japan, and Middle East & Africa).

About the Healthcare Division at Future Market Insights

Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here

Drug of Abuse Testing Market by Category

By Drug Type:

Psychostimulants
Narcotic
Cannabinoids
Sedatives
Others

By Technique:

Immunoassay
Chromatography
Rapid Testing

By End User:

Hospitals
Diagnostics Laboratories
Forensic Laboratories
Others

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East and Africa

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Renal Function Test Market Value With Status And Global Analysis 2022 | Future Plans And CAGR Forecast By 2032

According to FMI, the global renal function test market size is projected to register a steady expansion over the forecast period, 2017 to 2026. Revenues from worldwide use of renal function test are estimated to surpass US$ 900 Mn by 2026-end.

Public & Private Healthcare Organizations are Supporting Management of CKD through Programs & Initiatives

Increasing incidences of renal failure, and chronic kidney diseases (CKD) are considered to be the primary factors responsible for the significant demand for renal function tests. Unhealthy dietary habits, lack of physical exercise owing to hectic lifestyles, and stress, are commonly observed risk factors for diabetes, coronary heart diseases, hypercholesterolemia, and hypertension. These factors further lead toward dysfunctions in the kidney, which in turn creates demand for renal function tests. Surging number of people with diabetes who are highly susceptible to CKD are expected to propel the demand for renal function tests in the upcoming years. The resultant high sample volume is creating demand for highly effective and efficient renal function testing devices.

Awareness about diagnostic benefits related to renal function tests is increasing among people. The advent of technologically advanced products associated with renal function tests such as automated analyzers has resulted into refinement of present point-of-care real-time testing capabilities. In addition, the private as well as public healthcare organizations are consistently striving to support the diagnosis and management of chronic kidney diseases through various programs and initiatives, thereby creating awareness and demand for renal function tests.

Key Takeaways from FMI’s Report on Renal Function Test Market

North America will continue to be dominant in the global renal function test market, in terms of revenues. Between renal function test market in Europe and Asia-Pacific excluding Japan (APEJ), the former will account for a larger revenue share and the latter will register a relatively higher CAGR through 2026. The renal function test markets in Middle East & Africa (MEA) and Japan are projected to account for the lowest revenue share of the market throughout the forecast period.

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On the basis of product type, dipsticks are expected to be the leading contributor to the market growth, in terms of revenues. Revenues from sales of disposables and reagents are projected to register a relatively faster expansion, and will collectively account for over two-fifth share of the market during the forecast period.

Hospitals are anticipated to remain the most lucrative end-users in the global renal function test market, with sales estimated to surpass US$ 450 Mn in revenues by 2026-end. Diagnostic laboratories are expected to remain the fast-expanding end-users of renal function tests through 2026. Revenues from renal function tests in diagnostic laboratories are projected to account for nearly one-third share of the market by 2026-end. Research institutes will continue to be the least lucrative end-users of renal function tests.

In terms of test type, urine protein and microalbumin renal function test are together projected to account for over three-fifth revenue share of the market during the forecast period. Revenues from microalbumin renal function test will register the highest CAGR in the market through 2026. In addition, revenues from urine protein and serum creatinine renal function test are projected to increase at nearly equal CAGRs through 2026.

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Vendors in the global renal function test market are focusing on technological advancements through clinical trials. The intensive competitive landscape of the market is resulting into increasing mergers & acquisition activities, wherein smaller firms are acquired by well-established international vendors. Key player profiled by FMI’s report include Randox Laboratories, Elektronika, Acon Laboratories, Urit Medical, Nova Biomedical, Sysmex, Abbott, Roche, Beckman Coulter, and Siemens.

Key Segments Covered in Renal Function Test Market Report

By Product Type:

Dipsticks
Disposable
Reagents

By Test Type:

Urine Test
- Urine Protein
- Microalbumin
- Creatinine Clearance
Blood Test
- Serum Creatinine
- GFR rate
- Blood Urea Nitrogen (BUN)

By End User:

Hospitals and Clinics
Diagnostic laboratories
Research Laboratories and Institutes
Home Care Settings

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
The Middle East and Africa (MEA)

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Cloud Encryption Market to Receive Overwhelming Hike US$ 34.8 Billion in Revenues by 2032 | FMI

According to Future Market Insights (FMI), the demand for cloud encryption is estimated to increase at a CAGR of 30.9% from 2022-2032. The market valuation is projected to increase US$ 2.4 Bn by 2022 & US$ 34.8 Bn by 2032.

Organizations are investing in the modernization of data storage strategy with the adoption of cloud technologies for digital transformation. This is expected to drive growth in the cloud encryption market.

Growing need to store data in public and private cloud-based storages is spurring demand in the market. Also, the pandemic forced organizations to adopt remote work, which increased the use of digital technologies and online data sharing. This has resulted in an exponential rise in cyber breaches like ransomware, malware attacks, and phishing.

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As a result, enterprises are adopting cloud encryption to safeguard their sensitive data from the data breaches and cyberattacks. Cloud encryption encodes the data by converting the plain text data into cipher text, which is unreadable by malicious users, thereby preventing data breach. It provides enterprises with automated security, reduced complexity, and risk reduction by offering built-in security controls and continuous protection.

Increasing data volumes have driven the adoption of big data analytics across companies which is capable of processing and analyzing esults of big data and providing descriptive, predictive, and prescriptive results. But one of the biggest issues is how to gain perfect security for big data.

The growth of big data has been aided by cloud computing and cloud data stores. Businesses can obtain superior insights from their enormous amount of structured and unstructured data by adopting Big Data analytics in the cloud. Companies handle large amounts of data and leverage the cloud to perform analytics and keep it confidential.

With increase in data saved in the cloud storage server, hackers try to access confidential data using organizational cloud servers with the help of different decoding techniques. Hence, the use of advanced cloud encryption software by organizations has increased for achieving semantic security.

Key Takeaways:

By component, the solution segment is anticipated to expand at a 32% CAGR through 2032.
By service model, infrastructure as a service (IaaS) segment is estimated to grow by 17.8X during the forecast period.
Based on enterprise size, SMEs segment is estimated to grow by 16.8X during the assessment period.
In terms of industry, sales in the IT & telecom segment are anticipated to increase at a CAGR of 36.5% between 2022 & 2032.
The U.S. id projected to hold 71.5% of the North America cloud encryption market share by 2032.
Indonesia will emerge as a lucrative pocket, with sales growing at a 43.2% CAGR through 2032.

Competitive Landscape

Key players operating in the global cloud encryption market are adopting inorganic strategies such as mergers, acquisitions, and collaborations to gain a competitive edge in the market. They are also investing in research and development to expand their product portfolios. For instance:

In October 2021, a strategic partnership was established between Thales and Google Cloud to provide a trusted cloud service in France that will enable French businesses to innovate and reap the full benefits of hyperscale cloud technologies while maintaining data privacy.

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Cloud Encryption Outlook By Category

By Component:

Cloud Encryption Solution
Services

By Service Model:

Infrastructure-as-a-Service (IaaS)
Software-as-a-Service (SaaS)
Platform-as-a-Service (PaaS)

By Enterprise Size:

Large Enterprises
Small and Mid-sized Enterprises (SMEs)

By Industry:

BFSI
Healthcare
IT & Telecom
Government
Aerospace and Defense
Retail
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MEA)

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Security Orchestration Automation and Response (SOAR) Market Size Predictions : US$ 3.8 Billion by 2032

The security orchestration automation and response market are expected to develop at a CAGR of 10.9% through 2032, from USD 1.3 Billion in 2022 to USD 3.8 billion in 2032. The rising amount of false warnings is one of the primary reasons driving the security orchestration automation and response market, this factor boosts security orchestration automation and response market future trends.

Cyber security firms provide security orchestration automation and response as a platform or a solution. Organizations may use the platform to collect data and respond to security activities from a single system, thereby increasing the security orchestration automation and response market opportunities.

The security orchestration automation and response market enables diverse solutions to work together and automate tasks across products via workflows while yet allowing for human interaction. To manage security warnings and prevent additional assaults, these systems are implemented in public and private businesses.

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Organizations are embracing security services to manage mounting risks in a constantly shifting threat landscape as cyber-attack vectors get more sophisticated, hence escalating security orchestration automation and response market growth and security orchestration automation and response market opportunities.

The United States area of security orchestration automation and response market has stable and well-established economies, continent’s recovery outpacing the rest of the world allowing it to invest heavily in R&D and contribute to the development of new security orchestration and automation technologies.

The presence of legacy players is projected to be a primary driver of security orchestration automation and response market expansion in United States. With the right injection of capital, we can expect legacy players to accelerate efforts to capture more of the security orchestration automation and response market.

KEY TAKEAWAYS:

In the United States, the security orchestration automation and response market is estimated to reach US$ 1.3 Billion by 2032, increasing at a CAGR of 10.7% through 2032.
The security orchestration automation and response market in the United Kingdom is expected to be worth US$ 154.2 million by 2032, with a CAGR of 9.8% through 2032.
The security orchestration automation and response market’s services segment form the component category is predicted to develop at a CAGR of 10.4% through 2032.
Through 2032, Threat Intelligence in the security orchestration automation and response market’s application sector will grow at a CAGR of 10.1%.
China’s security orchestration automation and response market is expected to reach US$ 275.2 million by 2032, with a CAGR of 10.2% through 2032.
The market for security orchestration automation and response in Japan is expected to be valued at US$ 221.9 million by 2032, expanding at a 9.2% annual rate through 2032.
South Korea is expected to reach a market size of US$ 136.7 million in security orchestration automation and response by 2032, with a CAGR of 8.6% through 2032.

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COMPETITIVE LANDSCAPE:

IBM Corporation, FireEye, Cisco Systems Inc., Rapid7, Splunk Inc., Swimlane LLC, ThreatConnect, Demisto, DFLabs,, LogRhythm, Siemplify, Resolve Systems, CyberSponse, and Exabeam, are among the legacy security orchestration automation and response market players profiled in this.

These companies provide security orchestration automation and response solutions to meet security orchestration automation and response market demands and needs. These companies’ main growth tactics include partnerships, collaborations & agreements, and new product launches/improvements.

To extend their influence in the security orchestration automation and response market trends, these vendors have used a variety of organic and inorganic growth tactics.

Key Segments

By Component: